VyFinance wallet

What is VyFinance (VYFI)?

VyFinance is a DeFi protocol on Cardano built around automated vaults, where strategies that a user would otherwise run by hand are executed by the protocol on their behalf. VYFI is the token attached to that system, used for access within the protocol and for its governance rather than as a payment asset.

That shapes how it is held. A protocol token is typically acquired once and then left in place, moving only when its holder decides to take part in something, which makes the wallet a long-term store rather than a working account.

On Cardano itself, VYFI is a native asset. It has no contract of its own to interact with; it is minted under a policy id and moves with ordinary transaction outputs, alongside the ADA in the same UTXO. Two consequences follow. The policy id, not the name, is what identifies a token as genuine VYFI, since a ticker on Cardano is just a label anyone can attach. And an ADA balance has to be present to hold and move it, both for the minimum ADA travelling with the tokens and for the fee.

Supported networks in Tangem (1): Cardano.

For a token that may sit untouched for long stretches, the durable part is the key. Tangem creates it inside the card's secure chip, where it stays even while signing, and a second card from the same set is an identical spare rather than a phrase written on paper, though you can still add a seed phrase if you prefer one. Storage that survives years of not being opened is what a governance holding actually asks for.